Portland USDA Loan Rates, Closing Costs & Stats

PORTLAND-VANCOUVER-HILLSBORO, OR-WA

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Portland's 38 lenders originated 91 USDA loans during 2022. The total origination value was $33,935,000, with an average USDA loan value of $372,912.

Portland USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Portland averaged 5.81% for the week of 2023-03-17, compared to the national average (all USDA variants) of 6.497% for the same period.

Portland's average USDA mortgage closing costs are $8,326.

The average rate for the prior week (2023-03-10) was 6.02% and one month ago for the week of 2023-02-10, the average rate was 5.59%.

The average rate one year ago was 3.48%.

For refis of the same type during the week of 2023-03-17, the average rate was 5.01%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Portland USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Portland level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
GUILD MORTGAGE COMPANY 14 3.46% $12,733
UNITED WHOLESALE MORTGAGE, LLC 8 4.12% $11,219
CALIBER HOME LOANS, INC. 7 3.45% $8,807
PACIFIC RESIDENTIAL MORTGAGE, LLC 4 4.53% $10,923
SOUTHWEST FUNDING, LP 4 4.63% $12,099
MORTGAGE EXPRESS, LLC 3 5.45% $14,694
PANORAMA MORTGAGE GROUP, LLC 3 4.71% $17,244
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.88% $10,617
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 5.82% $12,070
PLAZA HOME MORTGAGE, INC. 3 4.50% $8,902
HOME POINT FINANCIAL CORPORATION 3 4.50% $9,438
ACADEMY MORTGAGE CORPORATION 2 4.19% $9,803
CHURCHILL MORTGAGE CORPORATION 2 4.75% $10,488
CMG MORTGAGE, INC. 2 5.25% $11,337
DHI MORTGAGE COMPANY, LTD. 2 3.94% $7,179
GUARANTEED RATE, INC. 2 5.00% $12,534
Hometown Lenders, Inc. 2 4.88% $13,138
Paramount Residential Mortgage Group, Inc. 2 3.56% $9,433
U.S. Bank 2 4.38% $10,567
HOME MORTGAGE ALLIANCE, LLC 1 4.25% $6,689
DIRECTORS MORTGAGE, INC. 1 3.37% $7,401
HomeStreet Bank 1 3.13% $14,624
Umpqua Bank 1 3.63% $8,388
LAKEVIEW LOAN SERVICING, LLC 1 2.75% $4,387
LEADERONE FINANCIAL CORPORATION 1 4.25% $18,755
Loan Simple, Inc. 1 6.25% $19,649
Commerce Home Mortgage, Inc. 1 2.75% $13,093
NATIONS DIRECT MORTGAGE, LLC 1 2.50% $7,914
Century Mortgage Company DBA Century Lending Company 1 2.75% $13,150
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 4.99% $16,644
AMERICAN FINANCIAL RESOURCES, INC. 1 5.13% $11,441
PENNYMAC LOAN SERVICES, LLC 1 3.00% $5,862
CANOPY MORTGAGE, LLC 1 2.75% $7,540
Sierra Pacific Mortgage Company, Inc. 1 2.88% $8,078
GENEVA FINANCIAL, LLC 1 6.50% $22,339
BROKER SOLUTIONS, INC. 1 3.00% $11,877
Flagstar Bank, FSB 1 2.88% $11,575
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 5.25% $9,492

The top Portland USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 14 USDA loans originated. Their average total fees are $12,733, which is $1,515 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Portland USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($12,733), .

The lowest rate Portland USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (3.46%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $475,000 (3.9%) $623,407 (3.6%) 1.76 4,657
2018-02-01 $482,450 (2.1%) $637,431 (4.0%) 1.75 4,461
2018-03-01 $495,000 (3.1%) $638,358 (2.1%) 1.74 4,776
2018-04-01 $499,000 (2.9%) $637,321 (1.7%) 1.69 5,397
2018-05-01 $499,450 (2.0%) $638,614 (1.6%) 1.67 6,285
2018-06-01 $495,000 (1.8%) $628,714 (1.6%) 1.65 7,150
2018-07-01 $482,500 (0.5%) $615,394 (1.5%) 1.61 8,120
2018-08-01 $478,100 (0.7%) $603,309 (0.9%) 1.60 8,643
2018-09-01 $469,960 (0.2%) $592,771 (0.3%) 1.58 8,970
2018-10-01 $469,575 (0.4%) $589,575 (-0.2%) 1.59 8,711
2018-11-01 $469,850 (0.0%) $592,584 (-0.9%) 1.59 8,086
2018-12-01 $469,900 (-1.1%) $600,478 (-2.0%) 1.62 6,959
2019-01-01 $472,425 (-0.5%) $602,934 (-3.3%) 1.63 6,177
2019-02-01 $477,000 (-1.1%) $611,563 (-4.1%) 1.61 6,030
2019-03-01 $480,143 (-3.0%) $610,873 (-4.3%) 1.57 6,291
2019-04-01 $475,643 (-4.7%) $603,741 (-5.3%) 1.51 6,851
2019-05-01 $478,050 (-4.3%) $604,266 (-5.4%) 1.49 7,404
2019-06-01 $479,000 (-3.2%) $600,952 (-4.4%) 1.50 8,318
2019-07-01 $474,950 (-1.6%) $598,452 (-2.8%) 1.49 8,610
2019-08-01 $473,291 (-1.0%) $598,142 (-0.9%) 1.50 8,507
2019-09-01 $470,877 (0.2%) $596,670 (0.7%) 1.51 8,265
2019-10-01 $464,500 (-1.1%) $590,408 (0.1%) 1.50 7,962
2019-11-01 $462,900 (-1.5%) $592,627 (0.0%) 1.52 6,951
2019-12-01 $465,950 (-0.8%) $597,078 (-0.6%) 1.55 5,662
2020-01-01 $471,000 (-0.3%) $609,065 (1.0%) 1.57 4,876
2020-02-01 $479,000 (0.4%) $615,565 (0.7%) 1.56 4,437
2020-03-01 $479,450 (-0.1%) $620,112 (1.5%) 1.50 4,825
2020-04-01 $475,025 (-0.1%) $607,185 (0.6%) 1.49 5,684
2020-05-01 $487,998 (2.1%) $616,851 (2.1%) 1.48 5,753
2020-06-01 $499,000 (4.2%) $630,805 (5.0%) 1.47 5,377
2020-07-01 $499,900 (5.3%) $642,403 (7.3%) 1.45 5,135
2020-08-01 $499,950 (5.6%) $650,641 (8.8%) 1.43 5,060
2020-09-01 $499,975 (6.2%) $654,558 (9.7%) 1.43 4,749
2020-10-01 $510,000 (9.8%) $660,928 (11.9%) 1.46 4,500
2020-11-01 $512,500 (10.7%) $669,609 (13.0%) 1.49 3,849
2020-12-01 $507,500 (8.9%) $673,862 (12.9%) 1.51 2,960
2021-01-01 $499,900 (6.1%) $682,327 (12.0%) 1.49 2,487
2021-02-01 $502,595 (4.9%) $690,987 (12.3%) 1.46 2,244
2021-03-01 $511,950 (6.8%) $683,665 (10.3%) 1.45 2,404
2021-04-01 $525,000 (10.5%) $693,200 (14.2%) 1.42 2,637
2021-05-01 $549,900 (12.7%) $717,340 (16.3%) 1.45 2,851
2021-06-01 $554,950 (11.2%) $726,910 (15.2%) 1.46 3,337
2021-07-01 $555,000 (11.0%) $731,675 (13.9%) 1.46 3,759
2021-08-01 $550,000 (10.0%) $723,151 (11.1%) 1.46 3,854
2021-09-01 $550,000 (10.0%) $724,316 (10.7%) 1.46 3,997
2021-10-01 $550,000 (7.8%) $720,993 (9.1%) 1.47 3,910
2021-11-01 $550,000 (7.3%) $724,789 (8.2%) 1.47 3,128
2021-12-01 $549,250 (8.2%) $727,860 (8.0%) 1.49 2,379
2022-01-01 $550,000 (10.0%) $739,131 (8.3%) 1.49 1,837
2022-02-01 $561,700 (11.8%) $736,543 (6.6%) 1.46 1,926
2022-03-01 $574,375 (12.2%) $737,242 (7.8%) 1.44 2,145
2022-04-01 $585,000 (11.4%) $755,066 (8.9%) 1.39 2,347
2022-05-01 $597,450 (8.7%) $759,355 (5.9%) 1.37 3,418
2022-06-01 $599,995 (8.1%) $762,247 (4.9%) 1.34 4,393
2022-07-01 $599,000 (7.9%) $753,872 (3.0%) 1.35 5,654
2022-08-01 $590,374 (7.3%) $745,501 (3.1%) 1.36 5,815
2022-09-01 $589,900 (7.3%) $762,158 (5.2%) 1.38 5,842
2022-10-01 $579,900 (5.4%) $760,849 (5.5%) 1.36 5,856
2022-11-01 $582,480 (5.9%) $769,531 (6.2%) 1.40 5,514
2022-12-01 $589,900 (7.4%) $779,770 (7.1%) 1.46 4,559
2023-01-01 $597,450 (8.6%) $793,650 (7.4%) 1.47 3,813
2023-02-01 $607,050 (8.1%) $812,739 (10.3%) 1.46 3,395
Portland's median listing price for 2023-02-01 was $607,050, a difference of $45,350 (8.1%) versus the prior year and $9,600 versus the prior month.

Portland's median listing price comes in at 146% of the national average.

Portland's average listing price for 2023-02-01 was $812,739, a difference of $76,196 (10.3%) versus the prior year and $19,089 versus the prior month.

For the 2023-02-01 period, Portland had 3,395 MLS listings, a difference of -418 listings (-11%) versus the prior month and 1,469 listings (76%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 65 days 2,265 sqft
2018-02-01 44 days 2,273 sqft
2018-03-01 36 days 2,265 sqft
2018-04-01 32 days 2,274 sqft
2018-05-01 31 days 2,275 sqft
2018-06-01 33 days 2,248 sqft
2018-07-01 37 days 2,216 sqft
2018-08-01 38 days 2,187 sqft
2018-09-01 45 days 2,156 sqft
2018-10-01 50 days 2,142 sqft
2018-11-01 57 days 2,149 sqft
2018-12-01 68 days 2,142 sqft
2019-01-01 70 days 2,136 sqft
2019-02-01 48 days 2,156 sqft
2019-03-01 41 days 2,146 sqft
2019-04-01 36 days 2,132 sqft
2019-05-01 33 days 2,140 sqft
2019-06-01 37 days 2,159 sqft
2019-07-01 41 days 2,149 sqft
2019-08-01 44 days 2,136 sqft
2019-09-01 48 days 2,130 sqft
2019-10-01 51 days 2,112 sqft
2019-11-01 64 days 2,099 sqft
2019-12-01 76 days 2,096 sqft
2020-01-01 77 days 2,110 sqft
2020-02-01 59 days 2,104 sqft
2020-03-01 44 days 2,095 sqft
2020-04-01 45 days 2,095 sqft
2020-05-01 56 days 2,106 sqft
2020-06-01 52 days 2,120 sqft
2020-07-01 44 days 2,107 sqft
2020-08-01 43 days 2,100 sqft
2020-09-01 51 days 2,079 sqft
2020-10-01 58 days 2,056 sqft
2020-11-01 65 days 2,048 sqft
2020-12-01 66 days 2,000 sqft
2021-01-01 53 days 1,942 sqft
2021-02-01 39 days 1,880 sqft
2021-03-01 33 days 1,904 sqft
2021-04-01 31 days 1,912 sqft
2021-05-01 31 days 1,948 sqft
2021-06-01 28 days 1,975 sqft
2021-07-01 35 days 1,976 sqft
2021-08-01 37 days 1,964 sqft
2021-09-01 43 days 1,961 sqft
2021-10-01 43 days 1,931 sqft
2021-11-01 52 days 1,907 sqft
2021-12-01 50 days 1,861 sqft
2022-01-01 61 days 1,852 sqft
2022-02-01 29 days 1,828 sqft
2022-03-01 28 days 1,834 sqft
2022-04-01 27 days 1,848 sqft
2022-05-01 24 days 1,928 sqft
2022-06-01 25 days 1,982 sqft
2022-07-01 30 days 2,000 sqft
2022-08-01 37 days 2,001 sqft
2022-09-01 44 days 1,995 sqft
2022-10-01 45 days 1,988 sqft
2022-11-01 52 days 1,995 sqft
2022-12-01 65 days 2,001 sqft
2023-01-01 72 days 2,020 sqft
2023-02-01 54 days 2,038 sqft
Portland's median listing age (time on market) for 2023-02-01 was 54 days. This is 86% longer than the same period one year ago.

Portland's median square footage for active listings during the 2023-02-01 period was 2,038 sqft. One year prior, the average listing was 1,828 sqft.